Norfolk Academy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 25,003,081 | 24,802,175 | 200,906 | 33.6 | 48% |
| 2012 | 27,297,585 | 26,020,820 | 1,276,765 | 32.7 | 48% |
| 2013 | 26,193,100 | 26,768,718 | −575,618 | 33.9 | 48% |
| 2014 | 27,799,842 | 28,484,043 | −684,201 | 34.9 | 47% |
| 2015 | 41,989,329 | 28,315,371 | 13,673,958 | 42.3 | 47% |
| 2016 | 39,307,062 | 29,072,890 | 10,234,172 | 44.2 | 47% |
| 2017 | 36,318,833 | 30,492,017 | 5,826,816 | 47.7 | 46% |
| 2018 | 35,461,413 | 31,534,161 | 3,927,252 | 50.3 | 46% |
| 2019 | 32,063,367 | 34,187,902 | −2,124,535 | 46.5 | 43% |
| 2020 | 29,484,040 | 31,826,486 | −2,342,446 | 48.5 | 46% |
| 2021 | 29,402,812 | 34,445,206 | −5,042,394 | 54.7 | 47% |
| 2022 | 31,774,205 | 35,199,350 | −3,425,145 | 51.2 | 46% |
| 2023 | 33,112,865 | 37,141,903 | −4,029,038 | 48.1 | 45% |
In its most recent public year (2023), this organization spent $4,029,038 more than it brought in. Its reserves stood at about 48.1 months of spending, up from 33.6 in 2011. Staff pay was 45% of spending. $74,768,787 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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